(TheNewswire)
Vancouver, B.C. – TheNewswire - November 3, 2022 – Solarvest BioEnergy Inc.(“Solarvest”, or the “Company”) (TSXV:SVS), (“Solarvest”or the “Company”) is pleased to announce that at the Annual andSpecial Meeting of shareholders held on October 25, 2022 (the“Meeting”), Solarvest shareholders approved the re-appointment ofArsenault Best Cameron Ellis, Chartered Professional Accountants asauditors and re-elected the existing board of directors. Disinterestedshareholders also overwhelmingly approved the 2022 Stock Option Planand ratified the re-pricing of stock options previously granted toinsiders of the Company. After the Meeting, the board of directorsappointed Claes Ellegaard, current CEO of the Company, as anadditional director to increase the total number of directors tofour.
The Company is also very pleased to announce that, inconnection with its Collaborative Research and Development Agreementwith FSD Pharma Inc., it has appointed Mr. Donal Carroll to the boardas a director.
Mr. Carroll is an experienced business executive having20 years of corporate finance leadership and public companyexperience, as well as deep expertise in syndicate investing both inequity and debt securities. He is currently a director and ChiefFinancial Officer of FSD Pharma Inc., Solarvest’s strategic partner.With a balance of prudent financing practices and business insights,Mr. Carroll has successfully guided companies through expansion andgrowth. Mr. Carroll was previously with Danaher, Alberto Culver (nowUnilever (NYSE:UL) and Cardinal Meats, where he was instrumental inmajor restructuring activities, mergers and acquisitions and theimplementations of new internal controls and ERP systems resulting insignificant efficiencies through periods of substantial change andstrong company growth. Since September 15, 2017, Mr. Carroll has beena Director of Bird River Resources Inc. He holds a CPA-CMA designationas well as a Bachelor of Commerce degree from University CollegeDublin.
The Company also wishes to announce that, concurrentwith the appointment of Mr. Carroll, Gerri Greenham, founder andlong-time director and officer, has resigned from the board due topersonal reasons.
“Mr. Greenham has served on the Company’s boardsince 2005. On behalf of the Board, we thank Mr. Greenham for hiscontributions over the last 17 years and wish him all the best in thefuture,” said Dr. William Cheliak, Chair of the board ofdirectors.
The following are now members of the board of directorsof the Company: William Cheliak (Chair), Gregory Drohan, ClaesEllegaard and Donal Carroll.
AboutSolarvest
Solarvest BioEnergy Inc. is an algae biologics companywhose production platform provides it with an extremely flexiblesystem capable of producing numerous products from Omega 3 fatty acidsto human therapeutic proteins. The company has successfullydemonstrated the expression of BMP, a high value therapeutic protein,viral antigens (immune stimulating proteins), and Cecropins(antimicrobial peptide/protein). The company has initiated a programfor the expression of CBD and THC to be produced in GMP fermentationfacilities.
For further information contact:
Claes Ellegaard, CEO
Email: invest@solarvest.ca
Phone: (647) 204-4095
Forward-LookingInformation
This press release contains "forward-lookinginformation" within the meaning of applicableCanadian securities legislation. Forward-looking informationincludes, but is not limited to, statements with respect to the termsof the Offering, the completion of the Offering and the expected useof the net proceeds received by the Company. Generally,forward-looking information can be identified by the use offorward-looking terminology such as "plans","expects" or "does not expect", "isexpected", "budget", "scheduled","estimates", "forecasts", "intends","anticipates" or "does not anticipate", or"believes", or variations of suchwords and phrases or state that certain actions, events or results"may", "could", "would","might" or "will be taken", "occur" or"be achieved". Forward-looking information is subject toknown and unknown risks, uncertainties and other factors that maycause the actual results, level of activity, performance orachievements of the Company to be materially different from thoseexpressed or implied by such forward-looking information, includingbut not limited to: general business, economic, competitive,geopolitical and social uncertainties; and regulatory risks. Althoughthe Company has attempted to identify important factors that couldcause actual results to differ materially from those contained inforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking information. The forward-lookinginformation contained in this news release is expressly qualified inits entirety by this cautionary statement. The Company does notundertake to update any forward-looking information, except asrequired by applicable securities laws.
Neither the TSXVenture Exchange nor its regulation services provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this pressrelease.
None of thesecurities of Solarvest have been registered under the U.S. SecuritiesAct of 1933, as amended (the “U.S. Securities Act”), or any statesecurities law, and may not be offered or sold in the United States orto, or for the account or benefit of, persons in the United States or“U.S. persons” (as such term is defined in Regulation S under theU.S. Securities Act) absent registration or an exemption from suchregistration requirements. This press release shall not constitute anoffer to sell or the solicitation of an offer to buy in the UnitedStates nor shall there be any sale of the securities in any State inwhich such offer, solicitation or sale would be unlawful.
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